How to Create a Tripwire Funnel with Popupsmart?
Now, if you are willing to use a tripwire funnel to skyrocket your sales but not knowing where and how to get the product; we have a simple, no-code solution for you!
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What is a Tripwire Funnel?
Tripwire funnel, also known as product splinter, is a marketing strategy targeting to convert visitors into customers through an irresistible offer. In marketing, the funnel metaphor refers to the stages of purchase activity converting a lead into a customer.
But the tripwire funnel is a little bit more than this.
Well, what makes the tripwire funnel different from other offer strategies? One of the describing features of the tripwire sales funnel is related to pricing. The pricing range is generally between $ 5 and $ 50 in tripwire funnel sales. So, the first step is to offer value as cheaply as possible.
How Does the Tripwire Funnel Works?
The working principle of the tripwire funnel is based on the following assumption: once they purchase from you, customers are more likely to re-purchase. Then, they will be directed to the core offer, which is the actual product you are trying to sell.
The Difference Between Tripwire Funnel and Lead Magnet
Lead magnet and tripwire funnel are often confused with each other. However, the lead magnet is generally focused on free incentives.
By providing customers a free offer, lead magnets request their e-mail and other contact information in return. In the tripwire funnel, on the other hand, a low-cost offer is on the agenda instead of a free incentive.
When these two methods are used together, an effective sales strategy can occur.
How to Use the Tripwire Funnel in Online Marketing?
Since sales began to be made through online marketing channels, new methods and terms came into our lives. Cold traffic is one of these terms. Transforming the cold lead into a warm lead lies at the heart of every online marketing strategy.
As one of the most clever sales strategies, the tripwire funnel is a method that has been used even in conventional marketing such in traditional brick and mortar businesses for years. This strategy functions as a traffic builder in the e-commerce world.
Let's say a web surfer is looking for a new online education course to gain some skills. In the first place, they will probably want to choose a free offer or a lower ticket product and try it out.
At this stage, they will not hesitate to share their credit card and e-mail information. Even if they do not make a second purchase immediately, you'll have a chance to grow your email list and send offers in the long term.
This simple magic trick behind the tripwire marketing campaign is towards boosting your sales, which is the ultimate goal of an e-commerce site. Let's dig deeper into the matter by giving a few more examples.
Tripwire Funnel Examples: Types of Offers
Rather than just examining tripwire funnel examples by successful companies, it is also useful to classify in which ways or by which methods they use this smart hack. For this reason, we will introduce you to the proven methods you can use when creating a tripwire funnel campaign.
1) Low-cost Trials
Low-cost trials are one of the most effective ways of turning cold leads into potential customers. Especially if you run a digital product company or online training courses, it's a great opportunity for sales, membership, and recognition in the market.
2) Tangible Products
This type of tripwire offer is a win-win strategy. You offer a tangible product to the customer as long as they only pay for shipping costs. This method is often used by opinion leaders to promote their bestseller books. You can alter it depending on your product type.
3) Trailer of the Core Offer
Think about food promotions in supermarkets. They ask you that "Would you like to taste our cheese?" and they hand you a small piece of it. Based on the same logic, first, you can give visitors a small piece of it to promote your core offer.
For instance, if you own an online course platform, you can use some beginner-level courses at a lower cost as a tripwire.
4) Complementary Products
As a very old marketing technique, complementary products will also help you to create a tripwire funnel. You can reinforce the sales strategy by cross-selling tricks and then maximize ecommerce profits.
For instance, if you are selling mobile devices online, you can use headphones as a tripwire.
5) Online Events
Offering low-cost access to an online event such as a webinar is a good way to grow your e-mail list and customer network. It works well also as a tripwire in digital marketing.
Once they get a free value, they will be more likely to pay for your future events and products.
6) Consultations
Through various means of communication like telephone, e-mail, or online chat, you can offer a free consultation on a specific issue as a tripwire.
Depending on your business goal, you can also choose or diversify your tripwire funnel marketing type from one of the above. Whichever you choose, you should provide an irresistible offer to customers, a great value willing to make them want more.
Summary
Creating a tripwire funnel won't be the savior to boost sales on its own unless you have a holistic business strategy. Nevertheless, it is a great complementary in terms of conversion rates and return on investment.
It's a fact that with the help of converting tripwire funnels, you'll get better results in the online marketing realm.
